Thread: Iraq/Dinar News. 09/05 to 01/14/07

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Originally Posted by kiko

Just saw this on the Presidency website.

Article about Talabani & Barzani.

I think they the Government and the Kurds agreed on the most important issues about the HCL. This means it has green light.

We also have the story that the HCL is at the parliament right now.

If these two are true, the there will be a go for the HCL and is the key issue solved and I think we all know what that means!!

WWWWWWEEEEEEEEHHHHHHHHHHH!!!

Ok, here is the article:


December 8, 2006
Temple denied Kamran led the official spokesman for the President of the Republic, as quoted by the Arab satellite channel, that Iraqi President Jalal Talabani, the report finds Baker-Hamilton conform to the interests of Iraq.

, Said temple led to the Arab satellite Ajtzat statements were made by the spacecraft, in which he stressed that it is not possible to give a comprehensive assessment of the report, which includes more than seventy recommendation, but he pointed to the presence of specific points in the report, such as the recommendation to transfer the security dossier to Iraqi control, and dialogue with the neighboring states, which correspond to the policy of the Iraqi government, exceed demand this always.
Drew, the official spokesman for the President of the Republic, to the Arab satellite channel ignored the statement in his statement in which he referred to the existence of many points and the themes contained in the report, and that does not correspond to the national interests of Iraq, and contrary to the Constitution, which is keen to protect President Talabani and commitment by.
And in this context led the temple, that the President of the Republic, Jalal Talabani, supported the position of President of Kurdistan Mr. Masoud Barzani of the report, which was published in a statement issued by yesterday.

And press office published the full text of the statement by the Presidency of the territory Cordstan on the report of the "Commission to Study Iraq"

"After examining the report," Commission to Study Iraq, "we need to put forward the following points :
1 - The non-arrival of the members of the Baker-Hamilton Cordstan to, and for whatever reason, is a big shortage in the evaluation process and report loses credibility.
2-Recommendation (26) to the audit of the Iraqi Constitution, the participation of experts from the United Nations.
In our view, any review of the Iraqi Constitution requires to be done within the mechanisms established by the Constitution itself. Therefore, we reject any change outside these mechanisms work, and everyone knows that the territorial integrity of Iraq is a commitment to this Constitution.
3-Recommendation (28) to put oil revenues under the control of the central government, and the distribution of proceeds on the basis of population in the areas in Iraq, considering that the control of the regions oil wells run with the new process of national reconciliation.
In relation to this recommendation, we renew our commitment to the full Constitution, which defines the right solution to this issue, and will reject any change in this area.
4-in (30) on the Kirkuk report calls for the postponement of the application of Article (140) of the Constitution and to mandate "the international community to support Iraq," which the Commission proposed to set up to address this issue.
In our view, the Constitution defined mechanisms application of Article 140 and the ceiling of the time, and this is the minimum acceptable Alkord. Therefore, any delay in the process of the application of this article is a great fears, which can not be tolerated in any form by the people Cordstan.
5-entire report stresses the strengthening of the central government and weaken the powers of provinces, and this in itself incompatible with the principles of federalism, Aldstoralthi form the basis of the new Iraq.
Here, I reiterate that federalism is the only way to preserve the unity of Iraq.
Six-take report clearly in a number of sections in the account of the interests and concerns of neighboring Iraq and calls for a greater role for these countries. In our view, this proposal is not consistent with the interests and sovereignty of Iraq in general and with the benefit of the people Cordstan in particular, which constitutes interference in the affairs of Iraq.
7-report calls in a number of paragraphs, for example, in recommendations (27) and (35), to persuade the parties that oppose the political process and resort to violence and to be included in the Authority and the government. This, in our view, contrary to the interests of the overwhelming majority of the Iraqi people and the democratic process.
8- مع شكرنا وامتناننا لرئيس الولايات المتحدة الاميركية جورج دبليو بوش والادارة الاميركية لدورهم في اطاحة النظام السابق وجهودهم في دعم العراق الجديد، نرى ان لجنة بيكر – هاملتون طرحت العديد من التوصيات غير الواقعية وغير القابلة للتطبيق معتبرة ان هذه التوصيات تساعد أميركا في التغلب على الصعوبات. فاذا كان الهدف هو ان تفرض اللجنة علينا هذه التوصيات غير القابلة للتطبيق، فاننا نعلن باسم شعب كوردستان رفضنا لكل ما يتناقض مع الدستور ومصالح العراق وكوردستان.
9- إن هذا التقرير لا ينسجم مع ما أكده لنا السيد جيمس بيكر في الاتصال الهاتفي الذي أشار فيه الى ان اللجنة راعت في تقريرها خصوصية اقليم كوردستان. علما اننا قد اوضحنا مسبقا رأي الطرف الكردي في رسالتنا الى اللجنة. ويبدو ان اللجنة لم تأخذ مضامين هذه الرسالة رسالتنا في الاعتبار ولم تشر اليها.
Finally, make it clear that :
- We are committed and any form of the Committee's report.
- May not ignore the democratic process and gains the Iraqi people and the people of Cordstan especially after the elections and the adoption of the constitution voted on by more than 80% of the Iraqi people and supported by the international community and by the United States of America.
- We believe that before the others to resolve the issues of Iraq, Nodal that is needed is for the Iraqis themselves to solve this problem, including the serious treatment of the issue of national reconciliation. Therefore Ndauajjamia Iraqi forces to secure the political process and the Constitution, federal, democratic and an Iraq to take the steps necessary to address those solutions contract to avoid the regional and international forces based on the recommendations and suggestions wrong.

Masoud Barzani
رئيس اقليم كوردستان
7/12/2006"


You know, it seems to me that irregardless of whether the Kurds get along with the others, (and we all know the kurds would have gotten this done a long time ago) it seems that the realization now is that time is no longer on their side and this has got to get done. Looks like their Constitution demands it as well, so that's a good thing! WWWOOOOOOOOOOOOTTTT

Exactly. Time is running out!

They must agree together for the whole Iraqi nation.

I agree that kurds would already have done it, but still the kurds and the government had their issues that delayed that HCL.

I always thought that they would agree, because they need each other and they have to hurry up!!

Originally Posted by pipshurricane

BAGHDAD, 08 December 2006 (International Herald Tribune)

Iraq's dinar currency has risen to a nearly two-year high against the U.S. dollar, thanks to trading by the central bank at its daily auction, the bank said Thursday.

Most of all the money the Iraqi government earns it gets in U.S. dollars because oil exports are the main source of its income, and the bank has about US$14 billion in foreign assets, said Mudher Qassim, the Central Bank of Iraq's director of statistics.
It sold 35 million U.S. dollars at Thursday's auction, state-run Iraqiyah television reported.

"Our goal is to reduce inflation, which is now running at about 50 percent, by improving the dinar and thereby making imported goods cheaper," Qassim said in a telephone interview.

More than 80 percent of all Iraq's tradable goods are imported, he said.

In a report in August, the International Monetary Fund also said inflation was escalating in Iraq. The 12-month rate of inflation ended 2005 at 31.7 percent, but inflation then accelerated, with 12-month inflation reaching 58 percent in May 2006, the report said.

On Wednesday, the dinar was trading at an auction price of 1,424 against the U.S. dollar, according to the central bank's Web site, its strongest price since March 23, 2004, when it was at 1,420.

Between Nov. 29 and Thursday, the Iraqi currency traded widely at a market price between 1,410 to 1,442 to the dollar, the best the dinar had seen Jan. 26, 2005, when it was at 1,405, the Web site indicated.

"The dinar has steadily increased against the dollar because of the Central Bank's efforts to stabilize the currency and control inflation," said Hussein al-Uzri, president of the state-owned Trade Bank of Iraq.

"Iraqi consumers get oil and food that is government subsidized, so the rise in the dinar won't have an immediate effect on them and the economy. It will take some time. But as Iraqis realize the value of the dinar is rising, they will stop immediately exchanging their currency into dollars," he told The Associated Press.

Wednesday's bipartisan U.S. Iraq Study Group said that by the end of 2006, "The Central Bank of Iraqi will raise interest rates to 20 percent and appreciate the Iraqi dinar by 10 percent to combat accelerating inflation."

Two money changers in Baghdad said Thursday said their businesses haven't been affected by the central bank's intervention yet, but some consumers were watching to see what will happen to the dinar next.

Government employees who are paid in dinars already are benefiting by getting a better deal at the many Iraqi stores that import products such as electronic goods and sell them in dollars only, said one money changer.

The other one said the many poor and unemployed Iraqis who survive by receiving U.S. dollars from relatives overseas — and Iraqis who work for foreign companies and are paid in greenbacks — are worse off.

Both money changers spoke on condition of anonymity to protect their security in Baghdad, where many people are killed in sectarian violence between Sunni Arab insurgent and Shiite militias. Businessmen and store owners often are kidnapped by common criminals seeking ransoms from their relatives.

Mustafa Alani, a senior adviser at the Gulf Research Center in the United Arab Emirates, said he believes the Iraqi government's concerns about inflation will not be addressed by its manipulation of the currency market because the main reasons that the prices of goods are expensive is that companies importing them have to spend so much money providing security to their truck convoys. Many avoid using warehouses in Iraq because they are easily attacked, Alani said in a telephone interview from Abu Dhabi.

Qassim agreed, saying he believes that the cost of security alone increases the cost of importing goods to Iraq from neighboring countries by 15 percent to 30 percent.

Iraq central bank boosts the country's currency in a battle against inflation | Iraq Updates

So, they have 14 Billion in currency reserves. Even if this figure does include the recent decrease of 1 Billion in reserves they spent over the last 5 or 6 weeks removing currency, it is still an incredible amount for a small country. Very few in the world have this much money. Thank You.

Originally Posted by Inscrutable

I was talking about this.

December 8, 2006
Title: World Economic and Market Developments/Financial Markets Update (Restricted Session)


This is aside from the reviews of the countries listed.

December 8
Title: World Economic and Market Developments/Financial Markets Update (Restricted Session) (HMMMM DOESN'T HAVE A COUNTRY)
_________________________
Country: Germany
Title: 2006 Article IV Consultation
_________________________
Country: Nicaragua
Title: Eleventh Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Financing Assurances Review

Originally Posted by Wm.Knowles

So, they have 14 Billion in currency reserves. Even if this figure does include the recent decrease of 1 Billion in reserves they spent over the last 5 or 6 weeks removing currency, it is still an incredible amount for a small country. Very few in the world have this much money. Thank You.

I really liked this part:

"Two money changers in Baghdad said Thursday said their businesses haven't been affected by the central bank's intervention yet, but some consumers were watching to see what will happen to the dinar next."

Originally Posted by AlwaysDreaming

Quote Adster: Just changing the subject, nice to see Stef getting a hard time on IIF in the 'This is a first' thread, lol. Go have a read!!!! Sure Susie will enjoy it!!

Wow! I really regret accepting the invitation and I don't think Susie would enjoy the way they're ripping her up today, not only on IIF but IDI too. Unbelievable they allow that. Hard to believe it's adults posting.

Originally Posted by dinartank

IS this YOUR numbers you reasearched and came up with or is this DaveDinar "naysayer" on IIFinfo you stole or are you him in trying to provoke your ideas over here. wanker

So clarify something for me please...were you referring to the poster "Precocious" as a wanker...or...did you sign your post referring to yourself as wanker? Inquiring minds want to know!! Preferrably the latter as it is against the TOS to call people degrading names.

Action Central Bank to raise the value of the dinar against the dollar convergence welcome economists
Some considered an important step towards reducing inflation

Al-Sabah -- 07 / 12 / 2006


Many economists specializing in finance and monetary actions the Iraqi Central Bank to lower the rate of the dinar against the dollar sale an important step on the road to control the volume of inflation.

They emphasized the importance of raising the interest rate of up to 12% in achieving the goal of curbing inflation would in the short term to stabilize the acceptable price prevailing in the Iraqi market.

That depression, and the upheaval of this action on the stock sale and purchase rates in most of the stores are banking Baghdad must follow this dangerous turn in the capital market in the Iraqi press statements, a number of different Concerned importance of the matter and the enemy of a remarkable step towards reducing inflation and raise the value of Iraqi dinar and reduce prices of goods and services.

When he said Ghalib Baban, Minister of Planning of the benefits of this procedure in Deflator which, he said also : that the Central Bank's decision, which came after extensive study by the stakeholders also aims to encourage holders of capital in addition to citizens in general on saving.
For his part, Governor of the Central Bank Sinan Shabibi : that the goal of the Central Bank is currently limited in the fight against inflation, which reached about 76% and reduce the height by providing better conditions for economic development and improving the performance of the banking sector and provide stability.
The Shabibi said that among the reasons inflation is increasing cash in circulation, necessary to follow a new monetary policy aimed at improving the dollar's exchange rate towards reducing its price several points in the auction, organized by the Central Bank every day to sell the dollar to withdraw currency from circulation.

With the general director of research at the Central Bank of Iraq appearance of Dr. Mohamed Saleh said that the Central Bank is responsible by virtue of Law No. 56 of 2004 to cope with inflation and reducing levels since the form of this principle, the basis for adoption of monetary policy in the performance of their duties, and on this basis should the Central Bank that sets policy priorities, and here we mean monetary policy to combat inflationary activities using the tools available.
He adds : no benefit to the monetary policy variables and intermediate or intermediate objectives reflect on the relationship between the impact of these variables to reduce the general level of prices and contain inflation. Among these variables of interest rates stabilizing "long-term" and stabilizing the exchange rate, or investigative, and the levels prevailing exchange, noting that these changes can not control unless it is directly targeted by similar variables and the variables or operational objectives are references or means Acharateh or information be used to influence stability in the cash market.

Among these references technique interest rate, the Central Bank of Iraq, a price indication would be tantamount compass navigation to influence the behavior of interest rates, as determined by which the Central Bank lends Why? What banks deposited in the Central Bank? Under the control of the volume of cash as it is believed that whatever the confiscation of inflation, in the end, monetary phenomenon, and Accordingly, the priorities are stability to the crisis logical to build and stimulate the economy.

Illustrates Saleh on this basis inflation is the basis for increasing the speed of money circulation and to abandon them what leads to the weakness of demand monetary and the growing demand for goods and services a matter of counterproductive, and in order to preserve the coherence of demand monetary and maximization its levels order does not turn to the spending strong emphasis on goods and services for the Central Bank, only the use of its tools in the raising the rate of interest to him to catalyze the structure of interest rates and maintaining the coherence of savings and maximization their purchasing power including helps monetary policy in addressing the table elevations high liquidity and contain them within a cash market "banking" turning into bloc cash adrift the direction of goods and services.

In the light of Matqdm highlights many of the questions in the forefront Can a Central Bank unit of curbing inflation and control the volume of cash and Majdoi raise the level of interest at the high prices?
Economists stressed the importance of the oldest in the Iraqi Central Bank of procedures to control the volume of inflation, which reached the high figures exceeded 70% by reducing the price of selling the dollar against the Iraqi dinar and raising the interest rate up to 12% from 10%, which generated a remarkable stability in prices in the markets of Iraq's stagnation in the sale and purchase rates in most of the stores banking in Baghdad.

The economists also stressed the importance that the Central Bank will continue this approach, which would curb inflation, which now threatens the stability of all the situation in Iraq, including security and social addition to the economic situation.

The observers speculate that the rise in the value of the Iraqi dinar against the dollar would reduce inflation and revive the economic situation of Iraqi families, which has suffered greatly because of the high rate of inflation, which was born the burden of large households now borne citizen addition to the deterioration of the level of savings is clear. Which prompted the Central Bank to take this action, which many observers several step towards a comprehensive reform of the Iraqi economy.

What is IIF?

Originally Posted by boxiedoxie

What is IIF?

It's better that you didn't know.

Iraqis, U.S. dispute deadly raid in new friction - Yahoo! News

Iraqiya state television on Friday said Iraq would hold a national reconciliation conference on December 16. It gave no details and it was not clear if Sunni Arab militant groups who oppose the political process would take part.